Koshinski Asset Management Inc. Grows Holdings in McCormick & Company, Incorporated $MKC

Koshinski Asset Management Inc. lifted its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 22.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,332 shares of the company’s stock after buying an additional 1,896 shares during the quarter. Koshinski Asset Management Inc.’s holdings in McCormick & Company, Incorporated were worth $783,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MKC. Wealth Enhancement Advisory Services LLC grew its position in shares of McCormick & Company, Incorporated by 1.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 131,310 shares of the company’s stock worth $10,808,000 after buying an additional 1,695 shares during the period. Sowell Financial Services LLC purchased a new stake in McCormick & Company, Incorporated during the 1st quarter valued at about $260,000. State of Alaska Department of Revenue increased its stake in McCormick & Company, Incorporated by 2.9% during the 1st quarter. State of Alaska Department of Revenue now owns 29,592 shares of the company’s stock valued at $2,435,000 after purchasing an additional 840 shares in the last quarter. ORG Partners LLC raised its holdings in McCormick & Company, Incorporated by 337.0% in the first quarter. ORG Partners LLC now owns 1,311 shares of the company’s stock worth $108,000 after buying an additional 1,011 shares during the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund raised its holdings in McCormick & Company, Incorporated by 56.6% in the first quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 7,324 shares of the company’s stock worth $603,000 after buying an additional 2,648 shares during the last quarter. 79.74% of the stock is owned by hedge funds and other institutional investors.

McCormick & Company, Incorporated Stock Performance

Shares of NYSE MKC opened at $67.58 on Monday. The firm’s 50-day moving average price is $68.15 and its 200-day moving average price is $71.79. The company has a quick ratio of 0.29, a current ratio of 0.71 and a debt-to-equity ratio of 0.54. The company has a market cap of $18.14 billion, a PE ratio of 23.38, a PEG ratio of 3.91 and a beta of 0.63. McCormick & Company, Incorporated has a 52-week low of $63.66 and a 52-week high of $86.24.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings data on Tuesday, October 7th. The company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.03. The company had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.71 billion. McCormick & Company, Incorporated had a net margin of 11.46% and a return on equity of 14.30%. The firm’s revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.83 earnings per share. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.000-3.050 EPS. As a group, analysts anticipate that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Tuesday, October 14th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Tuesday, October 14th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.7%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 62.28%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of McCormick & Company, Incorporated in a report on Tuesday, October 14th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of McCormick & Company, Incorporated from $79.00 to $71.00 and set a “hold” rating for the company in a report on Wednesday, October 8th. Barclays decreased their price objective on shares of McCormick & Company, Incorporated from $82.00 to $72.00 and set an “equal weight” rating for the company in a report on Wednesday, October 8th. Stifel Nicolaus decreased their price objective on shares of McCormick & Company, Incorporated from $76.00 to $71.00 and set a “hold” rating for the company in a report on Wednesday, October 8th. Finally, UBS Group decreased their price objective on shares of McCormick & Company, Incorporated from $71.00 to $70.00 and set a “neutral” rating for the company in a report on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $78.22.

Insider Activity

In related news, major shareholder Lawrence Erik Kurzius sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 8th. The shares were sold at an average price of $65.86, for a total value of $3,293,000.00. Following the transaction, the insider owned 246,762 shares of the company’s stock, valued at approximately $16,251,745.32. This trade represents a 16.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 23.80% of the company’s stock.

About McCormick & Company, Incorporated

McCormick & Co, Inc engages in the manufacturing, marketing, and distribution of spices, seasoning mixes, condiments, and other flavorful products to retail outlets, food manufacturers, and foodservice businesses. It operates through the Consumer and Flavor Solutions segments. The Consumer segment sells spices, seasonings, condiments, and sauces.